I guess I was a bit naive. Although, I’ve been writing for years, I didn’t know how royalties worked until I was in a conversation with Tonya. So I went in search of what really happens, when the contract is offered to a writer and the money is suppose to come rolling in.
First off, the average advance for a new author, hell for a mid-list author, whose been around for years, right now is around $5,000. We’ve disgust this here WG2 before how advances have taken a dramatic nose dive into the pit of despair. With this dismal amount, doctors who specialize in carpal tunnel, are probably making a killing from authors, who writing their hands off to pay the bills.
Here is the breakdown of the process after you’re offered a deal from your dream agent and the dream publisher. Here’s the math. Since the offer most likely will be only $5,000, and is divided up into three payments. I was disappointed to learn this, I actually believed the author got a big chunk of change right from the get go.
The first 1/3 is paid when the contract is signed. Your agent takes their 14% or 15% cut, right off the top. Then Uncle Sam comes along with his hand out. If you live in California, you know income tax is outrageous and is probably going up to keep the state from sinking into the Pacific. So by the time all is said and done, you’re looking at a pay day of about 1K, maybe. Move to a state with no income tax and it might be more.
The second 1/3 installment, comes when the manuscript is completed on time by way of making all the required changes for edit. Again the same scenario, agent, Uncle Sam, the state, and you’re on the bottom of the food chain, you get your grand.
The third 1/3 installment comes when the book goes to publication. The final grand is in the bank. If you don’t sell threw on this advance, that’s it. No more money. You won’t see another penny on your baby for at least two years. The shelf life of tradi books is approximately a month. Usually, it can be ordered on-line up to two years, before the rights go back to the author. From there the author can reissue their work. Other than that, that’s it no more money, forever. Unless of course it sells well as a indie.
And where are the big offers? Those go to authors who are best-sellers in the indie world, and are proven on their marketing skills. And not all of them are taking the bait, maybe about 50/50. Those who do take the deal are living a dream of New York published and belong tot he publisher, have to wait for those installments, and pray to the writing Gods they sell threw. Those who turn down the deal, maintain complete control of their work and is continuing to make money on their own.
At this point in my fledgling career as a indie author, I don’t know if I’d take the deal. It would have to be one sweet deal, let’s say an extra three zeroes on the end of the original three.
Would you take the deal if it was sweet enough?
Pretty dismal advance, isn’t it? I agree, if I was offered a trad-pub deal, it would have to be pretty good. I doubt if many (apart from possibly Amazon Publishing) are offering 70% royalties for ebooks, which are the bulk of my sales. And £5000? Blah to that!
Sibel:
That’s $5000 – much less than 5000 pounds sterling.
And I agree.
Mitzi
Mitzi, I have to agree too. 5K is much less, and my understanding the taxes in England are much higher. So they come out about the same.
I’m sayin’ “Blah to that” right with ya, Sibel! LOL!!!
Love it.
Sibel, you make more from Amazon, because there are less people involved, and your still in control. The advances are pretty dismal. Even well established authors, who in the past have made a great living at publishing are turning to inide. Well known romance author, Brenda Novak is putting some new stuff out in indie, that her publishers didn’t want. I understand she’s doing pretty well with them.
Absolutely, and why not? If I was in that position, I’d be doing the same
Hey LA,
Sometimes it’s even worse than that. Thriller writer James Rollins said on Joe Konrath’s blog that his last advance was split into FIVE payments, with the extra two being paid out on publication of the paperback, and one year later. Really stretching the definition of “advance” there.
That $5,000 advance will still sway some, even when they are told that is likely to be all they will see for that book (as most books don’t earn out).
To beat that advance, all you need to do is sell 2,500 books at $2.99, plus another 500 or so to cover your production costs. 3,000 books might sound like a lot but it’s not over the lifetime of a book. I think any book that is capable of attracting an agent and a publishing deal is capable of selling more than one a day for ten years (which would easily beat the advance).
Dave
They did that to MY James Rollins! He’s a very popular writer.
So when’s he going indie?
Mitzi
I’ve heard the “FIVE-PART PLAN” is close to being the new norm now in the TradiPub World, David, and thanks bunches for mentioning that!
And your math is right-on for what it takes to beat that in the Indie Epub World! Not much, right? And…we no longer have to worry about shelf life, so we can continue earning on each book FOREVER!!!
As Konrath also says: Forever is a long time.
Yay to FOREVER!!!
David, split five ways!! That’s crazy..I know authors who will take anything, because of the dream of New York Published and seeing the book in print in a bookstore. It was my dream for many years. When Indie hit the scene, I was on the edge of giving up. Honestly, if I got a offer right then I would have taken anything. Not anymore.
Not all authors see that sell through, sense, they don’t have ten years to sell the book, only a month at best on the shelf, and maybe two years on-line. As a indie, you can put your royalties in the will, because it’s there as long as you want it to be.
Great topic, L.A.!
I can say – without a doubt – that I would NOT even consider a TradiPub deal under the current TradiPub “norm” of a contract.
I’m only interested in Amazon-style “author-centric” contracts. For example, the contracts they’re using for all their new imprints.
I’d also be leaning toward contracting for just a single book (using an author-centric contract only) at this stage of the game. The industry is simply changing wayyy too much to tie-down more than one book at a time.
Plus, I’d have to be able to say that I’d be okay with never making more on that book than what the advance is…and I’m not sure I’m even ready to say that yet.
Just like you “Never Say Never”, “Forever is a long, long time”. I don’t know if losing all proceeds on a book except for that advance can make dollars and “sense” to me…right now. But again, that said, I am very open to Amazon’s own imprints.
Amazon believes in customers, just like I believe in my customers…my readers.
Amazon believes in treating its authors well too, and I sooo respect that.
D.D Amazon really is inviting authors to their side of publishing. In the past I knew authors who got pretty healthy advances on their books that never sold well, and turned around and did it again, until the economy hit, and the industry took a hit. The funny thing about all this, you can query a agent, they might be interested, take you on, sell the book and you get your 5k. As a indie, you put your books out on Amazon and B&N make more then the 5k, sell well, market well, and do this a couple of times, and that same agent is knocking at your do offering 7figures for the same book they turned down. Go wonder..
So true! I earned my first $5,000 in six months or less by going indie. I can’t imagine why anyone would pursue a different route for a $5,000 advance.
Great topic, LA! AND I love talking to you!!!
Here is how it would’ve broken down for me….if I would’ve stayed with my small press, I would’ve never made the sales I’ve made! I’ve taken my career in my own hands. As a mid -list author with a trade pub, it generally takes the author four-five years, on average, to sell 4-5,000 books and making out their advance. As of today, I’ve sold OVER 4,000 books in three months!! Granted, I didn’t get the $5k advance and I don’t have to give 15% away, and I haven’t made $5k….but I will make more than that by the end of the year, and beyond that. I don’t have to wait FIVE years to make any more money off my books. It’s NOW!
Fantastic sales figures, Tonya.
As a mid -list author with a trade pub, it generally takes the author four-five years, on average, to sell 4-5,000 books” Wow – really? I’m blessing all the rejections letters now! I was calculating my sales the other day, and I’ve sold over 40,000 books in 6 months! There’s no way that would’ve happened if I’d gone trad-pub, I don’t think.
A big woo hoo to Indiedom!
I’m with ya, girlfriend!!! INDIEDOM ROCKS!!!!!
And I’ll add my 3 and 6 months totals in here too:
The last three months sales = 3502
The last six months sales = 4676
So just between the three of us…Sibel, Tonya and D. D….each of us has sold in 3 – 6 months what it takes most midlist TradiPubs to sell over the four to five year life of a their TradiPubbed books!!!
Pretty amazing stuff, huh?
This all depends on the author and the book. I earn royalties on 2 books which were published a few years ago… I earned out my advance in one and a half years and my sales were very so-so.
My new contract pays out similar to what Lee wrote above, but in two and a half weeks, I’ve sold close to 3000 print books (based on what’s been reported, which isn’t entirely comprehensive and does not include e-books). My second book in the contract comes out in February which will up sales of the backlist. I’ve made the B&N mass market mystery bestseller list, as well as Bookscan, and anticipate earning out my advance within a year.
So I really think there are a lot of variables in how any contract plays out. Just my opinion!
Great stuff, Misa, sooo happy it’s working for you
Thanks, Sibel.
I’m nobody special, most definitely just a mid-list author, but my first book sold through in a couple of months and is currently in at least its fifth printing. (I haven’t checked lately; fifth was the last I saw.) I’ve made my advance many times over in royalties, and that’s just the first book. The others are ticking along, as well. The advances and the sales have gone up with each new release. No, I’m not making six figure advances, but the money I’ve made over the less than three years since the first book was released is nothing to sneeze at. As long as the books stay in print, I don’t see any reason to doubt that they’ll continue to sell, and as long as they continue to sell, I don’t see any reason why the publisher will discontinue them. It’ll happen sooner or later, for sure, but it’s the same with any book, even the self-published ones. They reach a saturation point sometime, where most people have bought them. That’s why we all – whether self-published or published by someone else – have to keep writing and putting new product out there.
Bente, Everybody is special!!!
Congratulations on your success…You’ve hit a market and have continued to sell in the bracket that your contracts get better all the time. These days that is rare. So many authors who haven’t sold well, find themselves in dropped down to the 5K advance area, when in the past it was much more.
It is true you have to keep writing, and keep your name out there, more so for a indie. The competition is huge. But I’ve seen series from well known authors come out back to back too, to keep things fresh on the shelf. It’s all in what you’re dreams are. And it sounds like you’re living your dream…
I wouldn’t call you a mid-list author, Bente. JMHO:) You’ve always done really well with your cool cozy DIY series. It’s a great niche, and I loved your books too!
LOL, T…yeah, I’m thinkin’ dear Misa and Bente just “out-ed” themselves…they are not your average midlist authors. They are bigger than that, and I sooo wish they’re TradiPub Publishers would give ‘em the big-time pushes they deserve.
I’d love to be able to go into B&N and find most of their books!!! But that’s just it, you can’t! I’ve tried in a gazillion stores!!!
It’s high-time the TradiPubs stop wasting money on co-op that will get good authors like Misa on a table for a month and spend the money on sponsorships on E-reader Centric Blogs that will get once midlist authors like Misa and Bente front and center on these super hungry reader sites plus more Amazon visibility too!!!
Plus, these blog sponsorships are a helluva ton cheaper than B&N co-op and reach more people on a daily basis than any co-op table!!!
I agree; I first sought an agent, and only e-published when it became apparent that the non-traditional genre nature of my novel was working against its being accepted by the usual agents/publishers. That said, Wearing the Cape has only been out since May and is #2 in its Amazon category and looks to be breaking 400+ sales this month. At $2.99 and assuming no huge growth in sales, this means I can expect to blow through the usual advance amount by the end of my first sales year. It would take a very good contract with an amazing advance to make me switch to a traditional publisher at this point.
Marion, congratulations on your success. $2.99 is a great price point. It’s always good the hear from authors who have make it threw their advances. I love to hear success stories on both sides of publishing. It gives me hope for the future for all writers.
Because my writing doesn’t fit into what agents are looking for, (so I’ve been told) I’m in your area of non-traditional genre, with a lot of gritty writing. Which is why indie works so well for me. As I said would I take the deal? I’m really not sure. My dream is to be New York published, but, it would have to be better then 5K.
Misa, it’s always good to hear from you on WG. You’re doing great! It is hit and miss with publishing you do well on one book and not so much with the other, then again this one is doing great. It could easily go that with indie too. The only difference is the shelf life of the book. Indies can be still earning out in 10 years.
But if you go indie next time you have a name and fan base already built in and you could make all the money!
Tonya that was a long gab session, and you’ll have to put your royalties in the will. Because they’ll just keep on coming.
Advances are like paid time off to authors. It’s a nice thought but unlikely to materialize! I like how you broke it all down and explained it so well. Good information, thanks for sharing it.
Thank Angela. As I said depending on where you live it can be more or less. But on average, a author will see only about 3k on their book in a their live time.
I have to add that so many authors fall for the publishing contract because they dream of ‘being published’. But everything is changing now. I too am having great sales selling 1000 titles a week now with my free novelette over 15000 downloads in six weeks. I love the control I have and like the rest of you a contract would have to be large and leave my current titles alone. Yeah indies!
Elizabeth Loraine
Elizabeth, Congrats on such great success. The dream of being New York Published I think now days is like, why bother. I love the control too. It’s why I’m indie.
Fab news! Completely agree. A lot of authors dream of ‘being published’ – hell, I did, but with the ebook revolution our destiny is now in our control!
I’m raisin’ my hand…I once had that same dream too!
Thank God that dream died instead of coming true!!! LOL!!!
Here we go with my crazy ideas:::
IF I was to query, and IF I was one of the lucky few to have my mss read, and IF I was offered a deal, this is what I would counter offer:
* 0 advance. I don’t want it. I want my percentage of sales from Day 1.
* I keep rights to e-book and will promote the crap out of it.
I doubt ANY traditional publisher would take this deal, but here is what it would do, in my mind. I can’t get my books in the stores (wholesale, grocery, B&N), they can. They can’t really sustain an online platform reaching out to readers, I can. If the two efforts were married, I think more books would be successful as the books doing well in print would find their electronic audience and vice-versa. Readers rarely double-dip, meaning whichever format they prefer, that’s what they stick with.
It’s almost what Amanda Hocking did by selling the second rights to the Trylle series. Publishers could do what they do best, and I think we can all agree that e-publishing isn’t it. Authors could do what they do best, using their creative juices to cater to readers.
Pipe dream… I know.
Elizabeth, it does sound great, and you never know. There are advantages to having a publisher, you can go to the grocery stores, and B&N. As indie, you can’t. I love the idea on the contract, but publishing is so stuck in their old ways, as you said it’s a dream.
Another problem with going with a publisher, is the editing. They often change the store, not just edit, but turn it completely around. As a indie, you can stay true to the story.
With you idea, maybe someday…One never knows.
Losing editorial control is the single biggest worry I have about a traditional deal. One agent told us we needed to cut at least 25,000 words from our novel or it would never sell. Curiously not a single reader has told us it was too long!
The problem with publishers is that their editors’ suggestions are actually not suggestions at all, but requirements. Disagree and say goodbye to the contract. Which in some ways is fair enough. They’re the ones putting the money in.
Simple solution – go indie first, prove your market, and then go to the agents or let the agents come to you. The advance will be bigger, and the editors less inclined to take over.
Mark, hey there from across the pond!! I have to agree on the editing. I’m a control freak, and maintain complete control over my work is paramount for me. I had a friend who was picked up by a publisher, and they required she change her beautiful story completely. She did it, it still didn’t sell to publishers. So she went indie with the original story and is doing great.
I’m all for going indie first prove yourself, you can write, you can write a great story, you can keep writing and you can market yourself. That’s when agents sit up and take notice, and it gives you more power.
I would’ve been so disappointed if you took out 25k words! I love your two books, Mark!!
And speaking of editorial concerns, wow…did u ever hit the nail on the head with this comment, Mark!
My agent had me rewrite BOOTSCOOTIN’ BLAHNIKS five times with five different word counts…per Big Six Editors’ wants and desires! For example, one time I had a 55,000 word story for Harlequin, next couple of months that went into 85,000 words for Hachette, then onto 65,000 for one of ‘em but more erotic than single title contemporary, then 75,000 to 85,000 words but this time more humorous women’s fiction and romcom.
Damn! No wonder I my muses were exhausted and over the top confused!!!
I published my original version as my debut – Indie Epub release – and it’s now sold close to 3000 copies!!!
And yes, like you, not one reader has EVER commented on the length of any of my books!!!
And it’s a fab dream, Elizabeth!
As a business woman, the 70% royalty is much better than the 15-17% royalty that a traditional publisher will pay you. Plus it will never go out of print. My youngest kid has already planned to outlive his older siblings, so he can inherit my royalities….LOL
Pepper, 70% makes a whole hell of a lot more sense then 15%. And it’s out there as long as you want it to be. You’re the boss.
Thanks for breaking down the financial realities for us. If writers don’t read Konrath or Rusch, they may not be aware of the how much advances have fallen or how few authors ever see royalties. Getting paid $3000 for a book that will probably be pulped within six months is like magazine writing, not novel writing, and it’s a whole lot more work. Certainly it isn’t making minimum wage.
But I’m glad to hear Misa and Bente are making good money and not falling into this pit we keep hearing about. I think it must depend on the genre. And the publisher, of course. I think romances tend to get pulled from shelves faster than mysteries, but I may be wrong about that.
I really appreciate the voices of Misa and Bente here. I’d be interested to know if they’re with Big Six or smaller publishers. Small publishers provide a great middle ground for both genre and literary authors. There’s no advance, but they pay higher royalties and keep you in print longer. They also often provide more publicity help. And most don’t require an agent.
What determines your shelf life if you’re with the Big Six is initial sales, so the writer really has to promote the hell out of the book launch in order to be in print six months later. But indies can take their time. You can put one book on amazon and not promote it until you publish your second or third, and meanwhile even if you only make a couple of sales a week, you’re still in the game and you’re building audience.
Shelf life is no longer determined for The Big Six by an author’s first couple weeks of sales, Anne.
That used to be the case…before this latest economic downturn. But NOT anymore.
Let me give y’all a quick lesson in the current state of the TradiPub Returns Biz:
The Bookstores…actually, I should pretty much just say Bookstore (singular) no longer has the kind of huge credit with publishers that they used to have. And neither do Ingrams and Baker & Taylor’s…for those of who don’t know the print book distribution system, Ingrams and Baker & Taylor are the middle-peeps so to speak who control inventory between publishers and retail outlets. Anyhoo…since there is very little credit to go around now, all of these outlets are returning books like mad, including the bestsellers, in order to make room for each month’s new releases. So basically, co-op or not, each author has about 1 month period to find an audience the size of Patterson, Roberts or Evanovich or their books are back in boxes, on pallets in semi-trucks, headed back to The Big Six’s returns centers across the country…where most of the books are then shredded into paper bales to be sent to Georgia to be made into toilet paper.
Big Six for both of us, Anne. The same publisher, incidentally. And we’re not the only ones. I know a lot of authors who write in our genre, with our publisher, who are doing as well or better than we are. Yes, series fold occasionally. And Misa’s debut print run was smaller than mine was three years ago. That’s a sign of the times. But she’ll sell through and start getting royalties soon. It’s one of the benefits of a smaller advance. You earn out more quickly. And speaking from experience, I’m selling way more of those books than I am of the ones I’ve self-published. And with a lot less effort, I might add. Diff’rent strokes for diff’rent folks and all that, of course, but in my case at least, my publisher is doing a good job selling my books. A lot better than I’m doing myself.
Anne, the the usual shelve life was 4 weeks in a book store, now the e-books it much longer, up to two years. The sell threw on smaller advances if greater if the author does well. There is less work with a publishers, which is why Amanda Hocking took the deal. She was spending more time promoting then writing. But on smaller advances, the author is required to do a lot of their own work. Best selling authors, get greater support from the publisher. Misa and Bente have done well…I’m happy that it has worked out for them. I wish it did for all of us.
Here in Canada, most of the publishers do not know the word “advance.” Royalties are paid once a year, usually 6 months into the year after the book sold. Think about that for a moment. If someone goes into a bookstore on January 1 (OK they’d be arrested, because they are closed on New Year’s so let’s say the 2nd for argument’s sake) and buys your book. You would see the royalty on that in June of the following year.
In my traditionally published books, the first royalties came in over two years after signing the contract, for example: Contract signed June 1998. Manuscript delivered November, 1998. Book launched May, 1999. First royalty check, June 2000. But wait, 20% of the royalty is held back in case of returns. Just to add insult to injury, our income taxes are much higher than those in America.
Now do you understand why I went independent 6 books ago?
I luuuvvv getting all the superfab Canadian scoop from you, Gordon!!!
Please keep on sharin’ it with us!!!
And it’s not much different here for TradiPubs. They are usually paid twice per year.
That’s pretty interesting how from country to country it’s different. In the US, with a e-publishing company it’s quarterly. There is no advance for e-publishing. Depending on how the book sells it could be everything from $20, and up…Which is better then every six months. Tradi, depending on when you meet the deadlines could depend on when you get paid. Thanks for for the north of the border advantage. Keep it coming.
This has been a fun discussion. In 2004 I was thrilled to have my very first book put under contract to the very first publisher I sent it to. (I know, stupid.) It was a small press and royalty only. I was their third best selling book of 2005. Won awards. I spent $8,000 in promotion. Got $100 in royalties. We learn as we go. I’m finally making more money than I’m spending. My books are selling everyday, generally every hour. I may not be the next JK or Nora, but I’m Definitely Dana, writing what I care about it. It isn’t just about the money, but the money allows me to keep writing what I think is worthwhile.
And wow do I luuuvvv your “Definitely Dana” books, Dana!
Cheers to you, Girlfriend!!!
That is another thing people don’t understand about a publisher is that you will still have to promote it yourself.
Dana, I’d be thrilled with the first contract and sale. In everything in life, we learn as we go, indie and tradi, is no exception. It’s good to hear your ahead of the game. With indie there are no guarantees, we have spend money to make money. The average indie cost between $300-$400 to get out. In the big skeem of things that’s not to much, and as a indie we’re more likely to earn back what we’ve put in to our books.
Publishers have a lot more over head, like agents, editors, cover artist, printing with all that goes with that,promoting. As a indie the over head is so much less, because there is no middle man.
NO! Not even with thirteen zeros following those dismal average $5,000 advances. I want cover design control, faster publication, final veto on title, and to keep more of the monies as the original creator of my work. After all, absent my words that make up that manuscript, upon which those lifetime percentages are paid to agent, Uncle Sam and the publisher would be nonexistent as well.
Denise, I think most indie’s high five you right now. That is the beauty of indie, complete control. Title!!! I can’t tell you how man authors I know tradi, who hate their titles!! I a lot of cases thing they’re down right stupid. And there is no middle man.
Awesome, awesome, awesome article L.A.!
Thanks so much for the breakdown.
I’m operating a small pub house myself. Building it up, actually. I’m considered self pubbed for my own work, since I publish my own work. My partner, the same. But, we’re also helping other authors get into print as well without spending a fortune.
Of course, we put our money into our own books and other author’s books that sign with us. They don’t pay us. We ask that they promote themselves as much as possible while we also promote them to the best of our ability.
Like most authors, I wanted a big house to notice me and love my work. Hit the NYT best sellers list. That was the Holy Grail. That was also ages ago, it seems.
I made my own decision that I wasn’t willing to wait years and years to try to make that dream happen. I set out on my own to figure out how to bypass the tradi system and have success on my own. This was before Indie really took off. I’ve been putting this plan together for about 4 to 5 years now. No, I’m not a huge seller yet even on Indie. In fact, my partner and one author we publish sell more than me. MUCH more. That’s ok. I’m thrilled they already have more success than me.
Anyway, before I get way off track here, the breakdown you give above is something that I hope to NEVER see my own pub house do. We refuse to even work with agents at this time. As far as I’m concerned, if we can make a few percent off each book from the authors we publish, that’s good for our company. It’ll slowly build as those authors sell well. We’ve got about a dozen different imprints under our main company umbrella, which allows us to work hard to publish any genre. If an author is willing to write and work with an editing team, which we provide, and promote themselves, we help them get into print. They become immediately available in hard copy on Amazon and bn.com and we work hard to get their hard copies in the brick and mortar stores. It’s not as easy for us to hit every Barnes and Noble store as it is for the big six. Now we’re also working on the ebook format for each book for every author.
Keep up the blog. I’ve seen great information already. The more the Indie world succeeds, the better it is for all of us!
L.A from L.A!!! I had the same dream as most writers to see my name in the NYT, but, as time moved on the economy went south like so many I saw my dream go down the drain. Then indie came along, and it was good fit for me, I could maintain control, get my books out when I wanted with titles and cover art my choice.
The draw back of indie, the likely hood of seeing a book in B&N on shelves won’t happen. In publishing companies like yours we can see that dream. There is so many different ways to see a book published it’s mind boggling. Tradi’s aren’t the only answer, and waiting for the ‘call’ isn’t necessary anymore. For the reader there is endless choices of genre’s, cross genres and books rejected because they didn’t fit into the norm of publishing.
Our goal is to bring updated information and educate anyone interested in publishing, no matter the kind of publishing.
Hey L.A.! LOL
Yes, the trouble of getting a book on a bookshelf when you’re indie. The corporate conglomerates certainly don’t like to make things easy for the little man or small business. And yes, that’s one big dream of mine with my small pub. Actually, I have the hope that one day my company will be big enough to play with the big dogs and actually CHANGE the game of publishing even more than it is now.
But these days, going indie is really not bad at all. I know many authors are publishing to ebook first and may or may not publish the same book in hard copy. But, with ebook sales skyrocketing, and costs to produce ebooks lower than hard copy, it’s not a bad choice either.
we’ve “discussed” this before (Not ‘disgust’) sell through (not sell threw) (threw, i.e. you’ve thrown something …
Okay…threw or through…That is always a confusion for me like lose and loose….Or there, their, they’re …
Thanks for this. I’ve always wondered what a typical advance was. I guess we only hear about the really big ones. Good to see what is the average.
M.P, it is the average, right now. I know what you mean, we do hear a lot about the HUGE, big 7 digit ones. Those are rare, which is why we hear about them with shock and awe. But-the big ones are out there, which gives us all hope.